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Public Status Enables Company to More Effectively Execute Its Business Model, and Create Shareholder Value
Jun. 14, 2010 (PR Newswire) --
STURGIS, S.D., June 14 /PRNewswire-FirstCall/ -- The Monkey Rock Group, Inc. (OTC Bulletin Board: MKRO) today announced that it has launched its operations as a public company.
"Achieving the status of a public company has been a goal of management since our inception, and meets our commitment to our shareholders to begin trading in the public markets," said John Dent, Monkey Rock's Founder, Chairman and CEO.
Monkey Rock ("the Company") is a U.S.-based retail leisure development stage company positioned to service the greater North American motorcycle rally industry. Currently, the Company has retail business operations in the short-cycle food, beverage and entertainment industry. The Company, prior to becoming a public company through its Monkey Rock USA™ brand, successfully completed its inaugural event at the Sturgis Motorcycle Rally in August 2009.
"We are very encouraged by the overwhelmingly positive responses we received to the Monkey Rock concept at the Sturgis motorcycle event in August 2009," said Dent. "Our view was that if we could be successful in only one limited venue, the Monkey Rock concept would work well through a public company vehicle, which would enable us to add significant visibility to our brand, and create shareholder value. I am pleased that we have completed the initial phase of becoming a public company. Recently we began trading under the Monkey Rock name, and symbol 'MKRO.' We believe we are positioned to become a premier retail leisure based company within the greater North American motorcycle rally industry that offers retail food, beverage, entertainment and exhibitor services in a variety of events and venues."
Chris Edwards, Monkey Rock's, Chief Operating Officer further stated: "Our goal is to provide an evolved, modern and environmentally sophisticated customer experience in the retail leisure based market while at the same time delivering exceptional value to our customers. To do this, we will offer our products and services through our mobile road show, retail operations, our website and digital solutions that emphasize a unique, fun and value driven alternative to the more traditional operators in our industry."
Currently the Monkey Rock USA ™ brand consists of the following:
THE MOBILE ROAD SHOW – The Monkey Rock USA™ road show is a mobile concept that will travel nationally to market the brand and concept, delivering Monkey Rock to people's door steps. The road show will vary in configuration from a completely custom mobile branded 70-foot tractor trailer rig that will house a Monkey Rock USA™ store, game stations, lounge and accompanying leisure and entertainment space. The mobile road show will also include the Company's branded 10,000+ sq. ft. tent with full scale Monkey Rock USA™ food, beverage and entertainment offerings.
RETAIL OPERATIONS – The Monkey Rock USA™ retail store will feature a physical location located in Sturgis, SD, the home of the annual Sturgis Motorcycle Rally. Sturgis is the largest such rally in the world and will include a combination of bars, restaurants, nightclubs, live entertainment offerings, retail stores, vendor space and services or any combination thereof, as appropriate. In 2009, the Company while operating as a private company participated in the Sturgis event and generated approximately $387,000 in revenue.
WEB SITES – Aside from the traditional purposes of a web site as an information portal, the Company will use its web sites as an online retail store where it will sell its perpetually evolving lines of branded merchandise, as well as for the development of the most comprehensive sector specific social networking portal, online classified ads and branded game play stations.
DIGITAL SOLUTIONS – Through existing public social networking sites (Facebook, MySpace, etc.), the Company will develop games and applications available to the game playing and application download population (branded apps, ringtones, wallpaper, etc.). Mobile versions of many of these digital technologies will be available to consumers also, all of which are relatively inexpensive to develop and are part of our extended growth plan.
The Company's management is actively working on implementing its business plan as well as attempting to raise sufficient capital to support current operations and to fund an acquisition strategy. The Company is currently in preliminary discussions with a number of acquisition targets that if successfully consummated, would significantly accelerate the Company's introduction of its brand and concept.
About The Monkey Rock Group, Inc.
The Monkey Rock Group, Inc. is a professional European-styled leisure concept that serves select North American markets with its unique delivery of food, beverage and live adult-themed entertainment venues. Our concept is a traveling one, where we have designs to serve some of the country's largest social and sporting events to include motorcycle and auto rallies, rodeo events and auto races. Monkey Rock Group, Inc is traded on the OTC Bulletin Board under the ticker MKRO. For additional information, please visit the Company's website: www.monkeyrockusa.com.
Forward Looking Statements
This press release contains forward-looking statements related to the future financial condition and results of Monkey Rock's operations, creating brand awareness, creating shareholder value, successfully obtaining sufficient financing, and consummating acquisitions. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes" and words of similar import also identify forward-looking statements. These statements are based upon current expectations, estimates and analyses and other forecasts and amounts not yet determined and assumptions of management.. These statements are subject to important risks and uncertainties, which are difficult to predict, and assumptions that may prove inaccurate. Some of the factors that could cause results or events to differ materially from current expectations include but are not limited to: general economic conditions, market or business conditions, changing competitive environment, raising sufficient capital on favorable terms, and the acceptance of the brand and concept. Some of these factors are largely beyond the control of Monkey Rock. Should any factor impact Monkey Rock in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. All of the forward-looking statements made in this document are qualified by these cautionary statements, therefore, there can be no assurance that the results or developments anticipated by Monkey Rock will be realized or, even if substantially realized, they will have the expected consequences for Monkey Rock. Readers should not place any undue reliance on any forward-looking statements. Furthermore Monkey rock disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other occurrences. Additional information on risks and other factors that may affect the business and financial results of the Company can be found in the Company's public filings located at http://www.sec.gov.
SOURCE The Monkey Rock Group, Inc.
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